PoP Income Statement – September 2017

Please guys, not another road trip!

Please guys, not another road trip!

Mr. PoP and I put these income statements together for two reasons. First, we want to be transparent about our finances because we’re trying to be role models for other people who are trying to plant their own pennies (and end up with dollars someday!). Second, we do this to make sure we’re on track to meet our own long-term goals. If you’re not tracking your income statement and balance sheet, we highly recommend you start using a program like Mint to keep track of it all.

It seems as though every month when I look back to compile our Income Statement and Balance Sheet posts it feels like the previous month passed too quickly.  But September 2017 is one for the record books in that regard.  We pretty much had 1 weekend of normalcy (luckily it was a nice 3 day weekend!), before Hurricane Irma took over our lives (including our financial lives) for the month. =/

Our highest categories this month are (shocker) all Hurricane related.

A quick, mostly already paid for, trip to Brooklyn for a family wedding ended up turning into a weeklong saga full of flight changes – including Kitty PoP’s first flight!, monitoring news from home pretty much constantly, staying with two different sets of wonderful and amazing friends along the way, topped off with a through-the-night road trip from Atlanta back home again.  (The road trip was Kitty PoP’s least favorite part – he chewed through the carrier wall about an hour from home!)

We usually aim for ~$100/day in travel incidentals, so thought we’d have ~$400 in travel costs this month.  Instead it was $1,830.  ~$500 of that is flight costs, but the other ~$1,300 is just what we spent on what I have deemed our 7-day long Hurrication.  We were definitely not being frugal – Lyft drivers earned a fair amount from us that week, but we were all safe and money was of no object after that.

Hurricane prep and repairs were another $1,051 – this is just our house.  About half of this was spent before the storm to prep the house or during the Hurrication so we would come back with ample supplies (some of which we’ve even given away to neighbors since then).  The other half is in the DIY repairs we have done at our house so far.  There will be another $2000 in non-DIY repairs at our house, and probably $500 to remove two now decapitated palm trees from the yard of the duplex.  But that will be another month.

The last Irma related expense is charity.  We feel so lucky and privileged that we were able to deal with all the craziness of the evacuation and know that even if the storm had done significant damage to any of our properties we would have been able to deal with it financially.  So we wanted to give to some who are not as fortunate as we are, and who were also hit worse by Hurricane Irma than we were.  So far we’ve given $1,000 – but I want to make sure the employer matching funds go through to the charity we chose (one that was a local leader in providing immediate relief and recovery in one of the poorest areas that was also one of the hardest hit) before continuing to give to that charity, or before giving some in Puerto Rico.

Now that October is here, maybe we will finally feel a little less hurricane-obsessed (though I’d prefer if we could fast-forward 2 months and have hurricane season be over).

Here’s all the rest of the numbers (since there were non-hurricane related expenses too)…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $5,132.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $10,922
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $12,522

Expenditures

  • Groceries: $458 – we lost almost everything in the fridge and freezer so this may be high the next couple of months as we rebuild
  • Eating Out: $260 – some of this was eating out after getting back, but before having power again
  • Total Food: $718
  • Mortgage: $1,123
  • Home Maintenance and Repairs: $75
  • Hurricane Before/After: $1,051 – so far this is a pretty even split between stuff we bought to prep and stuff we bought to make DIY repairs since getting back.  We still have another ~$2K in repairs that we choose not to DIY.
  • Renovations: $0 – we were a little pre-occupied with other things.  =P
  • Bills/Utilities for Primary Residence: $166
  • Total Home: $2,415
  • Gas: $244
  • Repairs & Maintenance: $52 – new windshield wipers
  • NSX Payment: $727 – while we paid cash for the car, we opted shortly thereafter to take advantage of the stupid low rate our credit union was offering on car loans to take a loan on the car and have more money liquid in the market.  
  • Total Transportation: $1,023
  • General Shopping: $160 – mostly presents for others
  • Pet Supplies / Care: $0 – well, some pet supplies are included in the Evacuation travel since we had to supply litter boxes and food on the go…
  • Total Shopping: $160
  • Gym / Fitness: $37
  • Medical Treatment/Visit: $0
  • Media Subscriptions: $9
  • Total Health/Fitness/Entertainment: $46
  • Travel – Hurrication: $1,830
  • 501c3 Charity – Irma Relief: $1,000
  • Total Miscellaneous: $2,830
  • Total “Personal Expenditures”: $7,191  ($6,464 net Reno and NSX payment, and $2,583 net those and Hurricane Irma)
  • Investment Properties: $199
  • Total Investment Expenses: $199
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $12,522 – $7,191 – $199 = $5,132

Principal Paydowns / Savings Allocations

  • Transfer to Holding Acct for 2017 Roth IRAs: $1,000
  • Transfer to Taxable Investment Account: $4,000
  • Total Principal Paydowns / Savings Allocations: $5,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $5,132 – $5,000 = $132 = Net Income

How was your income and spending this month?

 

 

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